why 95% lose

[Catch22]

Fair enough. Trading is a negative sum game due to brokerage, taxes and slippage. This is why intra-day trading is the thing for the top-notch experts. Most others must reduce the number of trades. Trade positionally perhaps.

Thank you.

 

[Riskyman]

Trading is a business. Problem stems from here. People fail to understand this. Show me how many persons are doing share trading full time? Nobody wants to take risk with their career or money. How many people have the guts to quit their job and trade full time? In reality,there is no such thing as part time business. Every business is full time. You have to put in your heart and soul,work hard,acquire skill and put in capital. Have patience. In share trading,one should also have psychological control. If I try to fly an plane,without undergoing training,will I able to fly?

Im here. I lost my job and since then i have not even bothered to look for another job. Im a full time trader now. My life depends on the money I make from the markets.

Much has been discussed in this thread about learning, knowing, skills, capital, position sizing etc etc. In my experience none of these things matter that much simply because once your trade is executed, you are no longer in control of what the market does (unless you have a couple of hundred crores to move the market). You can only hope the trade goes in your favor or exit with a small loss if it goes the other way. I.e there are only two outcomes to any trade. You make money or you loose money.Its that simple. The market offers the same information to all of us at large but yet only a handful win while the majority loose. What then makes the difference?? The only single thing that matters is your ATTITUDE towards your trades. I have spent 2 years and blown up a sizable amount of money learning this cold reality & truth. Believe me what applies to me will apply to you as well in this respect. Attitude is the single most important thing in trading. It is only when you have a certain attitude you will win consistently. The market is willing to give money to anyone without discriminating. Period!

 

[copypasteaee]

Im here. I lost my job and since then i have not even bothered to look for another job. Im a full time trader now. My life depends on the money I make from the markets.

Much has been discussed in this thread about learning, knowing, skills, capital, position sizing etc etc. In my experience none of these things matter that much simply because once your trade is executed, you are no longer in control of what the market does (unless you have a couple of hundred crores to move the market). You can only hope the trade goes in your favor or exit with a small loss if it goes the other way. I.e there are only two outcomes to any trade. You make money or you loose money.Its that simple. The market offers the same information to all of us at large but yet only a handful win while the majority loose. What then makes the difference?? The only single thing that matters is your ATTITUDE towards your trades. I have spent 2 years and blown up a sizable amount of money learning this cold reality & truth. Believe me what applies to me will apply to you as well in this respect. Attitude is the single most important thing in trading. It is only when you have a certain attitude you will win consistently. The market is willing to give money to anyone without discriminating. Period!

Whats that Attitude. Please explain.

 

[toingpoing]

Im here. I lost my job and since then i have not even bothered to look for another job. Im a full time trader now. My life depends on the money I make from the markets.

Much has been discussed in this thread about learning, knowing, skills, capital, position sizing etc etc. In my experience none of these things matter that much simply because once your trade is executed, you are no longer in control of what the market does (unless you have a couple of hundred crores to move the market). You can only hope the trade goes in your favor or exit with a small loss if it goes the other way. I.e there are only two outcomes to any trade. You make money or you loose money.Its that simple. The market offers the same information to all of us at large but yet only a handful win while the majority loose. What then makes the difference?? The only single thing that matters is your ATTITUDE towards your trades. I have spent 2 years and blown up a sizable amount of money learning this cold reality & truth. Believe me what applies to me will apply to you as well in this respect. Attitude is the single most important thing in trading. It is only when you have a certain attitude you will win consistently. The market is willing to give money to anyone without discriminating. Period!

I agree with you regarding attitude.But equally important is skill and knowledge. One can evaluate himself on that. There are so many sophisticated instruments available today,that if one really acquires knowledge in it and starts applying it in real time,risk can be reduced. Another important requirement is keeping tab on micro and macro developments in true real time basis. I have seen even people who are full time into trading,going after tips,watching and following television analysts,which is totally not advisable. A person who has no confidence in himself,cannot expect to win. And it is a myth that to become successful in trading,you need multi crores. Trading requires capital like any normal business,say around ten lacs as capital invested with additional investment of around two lacs for infrastructure. There is ofcourse no higher limit. But if with a capital of around 12 lacs,after gaining sufficient skill,one does trading as full time,sincerely,the returns would be one of the best ,as compared to other businesses.

 

[oilman5]

This is the other reason for failure in Trading context

.........................................................................

Great quote & picture.
other reason= trading mind u have to develop urself
..............
thanks xray27 !!!!!!!!

 

[toingpoing]

Im here. I lost my job and since then i have not even bothered to look for another job. Im a full time trader now. My life depends on the money I make from the markets.

Much has been discussed in this thread about learning, knowing, skills, capital, position sizing etc etc. In my experience none of these things matter that much simply because once your trade is executed, you are no longer in control of what the market does (unless you have a couple of hundred crores to move the market). You can only hope the trade goes in your favor or exit with a small loss if it goes the other way. I.e there are only two outcomes to any trade. You make money or you loose money.Its that simple. The market offers the same information to all of us at large but yet only a handful win while the majority loose. What then makes the difference?? The only single thing that matters is your ATTITUDE towards your trades. I have spent 2 years and blown up a sizable amount of money learning this cold reality & truth. Believe me what applies to me will apply to you as well in this respect. Attitude is the single most important thing in trading. It is only when you have a certain attitude you will win consistently. The market is willing to give money to anyone without discriminating. Period!

In continuation to my reply yesterday to this post... Generally I avoid giving individual advice or suggestion,but since I feel that in this particular case,other members may benefit ,if I write a few words,I am going ahead..
You have spent 2 years and blown up sizable amount of money. Your latest view is that once you take a trade or after the trade gets executed ,you are helpless. Now,based on these two statements,I feel that from whatever source or from whom you got to learn trading was not the correct source or maybe you have not mastered it properly.With proper money management of available capital and making use of various hedging tools,there is no way capital would blow up.You can continue to make money every trading day..
Another habit one should put in,which many do not,is to keep a note book and enter each and every trade. Next write in brief on what logic you took that trade.If profitable,could it be improved or if loss,why.Writing and analyzing ,does wonders.Problem is most of the traders are lazy and after easy money.Note down daily historical price movement of the scrips or indices you are trading,on daily basis from NSE Bhavcopy.Go through this every day before the market opens. Write down exact figures at which you would be entering and exiting.Stick to it. No last minute confusion.NEVER do the mistake of consulting others ,however expert he might be,regarding the trades you have taken.I have put in just a few things.These things are not taught anywhere or in any books.Strategy and technicals come after these basic system.Making money in trading requires lot of effort and hard work.Every loss made in trading should be treated as a fees paid for learning.Unless one analyses every loss by writing down and improving,no way there can be correction in future.Many members would not agree with me for this lengthy posting.Anyway,even if one single member gets benefitted,I would be more than satisfied.:thumb:

 

[marimuthu13]

In continuation to my reply yesterday to this post... Generally I avoid giving individual advice or suggestion,but since I feel that in this particular case,other members may benefit ,if I write a few words,I am going ahead..
You have spent 2 years and blown up sizable amount of money. Your latest view is that once you take a trade or after the trade gets executed ,you are helpless. Now,based on these two statements,I feel that from whatever source or from whom you got to learn trading was not the correct source or maybe you have not mastered it properly.With proper money management of available capital and making use of various hedging tools,there is no way capital would blow up.You can continue to make money every trading day..
Another habit one should put in,which many do not,is to keep a note book and enter each and every trade. Next write in brief on what logic you took that trade.If profitable,could it be improved or if loss,why.Writing and analyzing ,does wonders.Problem is most of the traders are lazy and after easy money.Note down daily historical price movement of the scrips or indices you are trading,on daily basis from NSE Bhavcopy.Go through this every day before the market opens. Write down exact figures at which you would be entering and exiting.Stick to it. No last minute confusion.NEVER do the mistake of consulting others ,however expert he might be,regarding the trades you have taken.I have put in just a few things.These things are not taught anywhere or in any books.Strategy and technicals come after these basic system.Making money in trading requires lot of effort and hard work.Every loss made in trading should be treated as a fees paid for learning.Unless one analyses every loss by writing down and improving,no way there can be correction in future.Many members would not agree with me for this lengthy posting.Anyway,even if one single member gets benefitted,I would be more than satisfied.:thumb:

very good thought process you are sharing with us...great work boss...keep it up...:clap::clap::clap:

 

[traderking22]

i want to keep it simple, market is not a science, we treat mkt as a science so we use technicals and fundamentels to predict the future price action
But as per my experience i think mkt is random and if something is random how we can predict the future
to be sucessful in trading " It is important how much u gain when u are right but the most important is that how much we loose when we are wrong "

Out come of the trade would be any of these four
1) Small profit
2)Small loss
3) Huge profits
4) Huge Losses

IF we are able to take care of the huge loss, i can bet no one can stop u making money

Best of luck

TraderKing 22

 

[oilman5]

i want to keep it simple, market is not a science, we treat mkt as a science so we use technicals and fundamentels to predict the future price action
But as per my experience i think mkt is random and if something is random how we can predict the future
to be sucessful in trading " It is important how much u gain when u are right but the most important is that how much we loose when we are wrong "

Out come of the trade would be any of these four
1) Small profit
2)Small loss
3) Huge profits
4) Huge Losses

IF we are able to take care of the huge loss, i can bet no one can stop u making money

Best of luck

TraderKing 22

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
In my first 10yr of learning to trade , i have seen thousands , including socalled 5yr pro to book profit and hold losers - the simple things was not possible , we give stress on profit making trade(urge to be right) - putting hope on losers , to sell when price shall comeback- is single most reason.
Novice is always novice
Only when i try to learn from Pro's of Tradingmarkets - they suggest 1st to modify behavior .
Trading is a cruel world- u have kill the baby(when loss start) and adore (hold & add) the winner.
It takes time

 

[Riskyman]

You have spent 2 years and blown up sizable amount of money. Your latest view is that once you take a trade or after the trade gets executed ,you are helpless. Now,based on these two statements,I feel that from whatever source or from whom you got to learn trading was not the correct source or maybe you have not mastered it properly.With proper money management of available capital and making use of various hedging tools,there is no way capital would blow up.

Thanks for your reply and suggestions. Now I am a qualified technical analyst. Let me assure you again that once your trade gets executed there is simply nothing you can do except hope it goes your way. And when i say it I mean that its beyond you to control what the market eventually does. You cannot deny the fact that you are no longer in control of the price action that follows. Hedging / Money management etc etc is a different thing altogether.

Writing down notes etc is all a part of the system. I have every trade i have ever taken on an excel sheet. The problem does not lie in the system or the knowledge or the skill. The problem lies in a persons gray cells. It if my belief that if you have it working well then you make a lot of money from the markets even with a very very basic trading system. You can have a great system but if you have an attitude that sucks then one cannot make money. Like i said when i was loosing money it was simply because of my attitude. Once i changed my entire mindset/attitude towards trading everything changed for the better. I not only recovered all my losses in less than 6 months but went on to make a lot more than i had anticipated. Making money requires a certain attitude. Most people loose not because they dont have the knowledge or the skill or a good system. They loose because they dont have a winning attitude.